Sndl (SNDL) Operating Margin (2019 - 2026)
Sndl (SNDL) recorded Operating Margin of -3.33% in Q2 2026, down 5.37 percentage points from 2.04% a year earlier but up 1.33 percentage points from the prior quarter.
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Analysis
Sndl (SNDL) Operating Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Sndl's Operating Margin came in at -1.77% as of Jun 30, 2026, down 0.19 percentage points year-over-year; for FY2025, it was -0.67%, up 10.61 percentage points from FY2024.
- Annual Operating Margin has increased for five straight years, with a five-year change of +252.20 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -11.28% in FY2024 (+6.67 pp), -17.95% in FY2023 (+29.71 pp), -47.66% in FY2022 (+152.07 pp) and -199.73% in FY2021 (+53.14 pp).
- Quarterly Operating Margin has ranged from -115.12% in Q1 2022 to 183.08% in Q4 2021 over the past five years.
- On a year-over-year basis, Operating Margin rose in four of the last eight quarters, with an average year-over-year change of +5.58 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 521.72 percentage points in Q2 2022, against a drop of 245.73 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at -4.65% (Q1 2026), 4.65% (Q4 2025) and -4.52% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.31 Bn | 283.88 Bn | 7.66 Bn | 40.48% |
| 2 | British American Tobacco p.l.c | 126.84 Bn | 105.99 Bn | - | - |
| 3 | Altria | 114.73 Bn | 100.93 Bn | 3.82 Bn | 51.32% |
| 4 | Curaleaf Holdings | 2.84 Bn | 2.44 Bn | 169.91 Mn | 1.24% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 12.90% |
| 6 | Trulieve Cannabis | 2.39 Bn | 1.00 Bn | 162.29 Mn | -136.75% |
| 7 | Green Thumb Industries | 1.49 Bn | 344.56 Mn | 137.87 Mn | 6.51% |
| 8 | Cronos | 1.25 Bn | -1.97 Bn | 28.45 Mn | 10.49% |
| 9 | Turning Point Brands | 1.21 Bn | 336.94 Mn | 93.70 Mn | 11.69% |
| 10 | Sndl | 358.17 Mn | -285.95 Mn | 40.74 Mn | -3.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.33% |
| Mar 31, 2026 | -4.65% |
| Dec 31, 2025 | 4.65% |
| Sep 30, 2025 | -4.52% |
| Jun 30, 2025 | 2.04% |
| Mar 31, 2025 | -5.88% |
| Dec 31, 2024 | 8.00% |
| Sep 30, 2024 | -7.81% |
| Jun 30, 2024 | -2.12% |
| Mar 31, 2024 | -2.21% |
| Dec 31, 2023 | -41.22% |
| Sep 30, 2023 | -6.90% |
| Jun 30, 2023 | -12.75% |
| Mar 31, 2023 | -16.86% |
| Dec 31, 2022 | -62.64% |
| Sep 30, 2022 | -37.65% |
| Jun 30, 2022 | -35.78% |
| Mar 31, 2022 | -115.12% |
| Dec 31, 2021 | 183.08% |
| Sep 30, 2021 | -110.95% |
API Access
Sndl Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=SNDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "SNDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=SNDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();